We’ve launched a new White Paper on the PropertyQuoteDirect website that looks at the impact the budget has had on landlords up and down the country. The White Paper is available to download here: https://www.propertyquotedirect.co.uk/white-papers.php
Through our research we have been able to identify the percentage of landlords that believe the budget has negatively impacted them. 16% of respondents stated that it had affected them whilst 47% said they were not negatively affected.
The White Paper also breaks down the impact the budget has had per age range. So, the data reveals that those most likely to have been affected by the budget are aged between 45 and 54 whilst those least likely to have been impacted in a negative way are aged between 18 and 24 with just 8% stating so.
The White Paper also examines the impact the “Granny Tax” is expected to have on landlords. The “Granny Tax” refers to the pension allowance changes that have been brought in consisting of freezing the higher personal allowance for retired people, eliminating the perk worth up to £323 per year for a large number of future pensioners; hence why it has been dubbed the “Granny Tax”.
The majority of the respondents, all of which should hold a landlord insurance policy for the properties they let out, did not feel that the “Granny Tax” would have a negative impact as 37% of the respondents answered “No” when asked “Do you think the ‘Granny Tax’ will negatively impact on you as a landlord?”. 35% answered “Yes”.
Fearing the “Granny Tax”
When drilling down to the ages of the respondents, it was the 55+ age that had the highest percentage of landlords who feel they will be negatively impacted by the “Granny Tax”.
Interestingly, the 18-24 age range had a higher percentage of landlords feeling that they would be negatively impacted by the “Granny Tax” than the budget on the whole, as 39% answered “Yes” to the aforementioned question. This shows that landlords in this particular age range have a greater fear of the impact of the “Granny Tax”.
All of our findings can be seen in the downloadable White Paper, which goes on to discuss much more than we can cover in one blog post.
Also, it’d be great to hear from you – have you been negatively impacted by the budget and the “Granny Tax”? Let us know by leaving a comment below.